What if you could turn "No" into business for later?
As a commercial banker, it's never fun to turn down a potential customer who you think has a promising business, but doesn't currently meet your lending criteria.
Instead of sending that prospect away, you have another option with a factoring referral! We'll help your client get the working capital they need quickly by turning their invoices into cash!
Bankers consistently tell us they refer factoring prospects to Catalyst because:
- We make it easy to transition from factoring to the bank for a line of credit.
- There are no exit fees when a company leaves Catalyst.
- We offer flexibility and fast financing.
- Our process allows us to take on clients that others may have to say no to.
We're proud of our bank partnerships and have a very high success rate in getting companies back to the bank for that line of credit after 18-24 months of factoring.
A referral now leads to business for you later!
What type of company is a good factoring referral?
Common industries include oil and gas, service companies, manufacturers, trucking, wholesalers, and staffing. Other indicators that factoring can help include:
- Start-up and/or rapidly growing companies
- Companies with a non-revolving line of credit
- Companies who do not qualify for a traditional LOC
- Companies selling to customers on terms (i.e. net 30 days)
- Accounts receivable is the primary asset
- Large concentration with one or two customers
- Principals/Owners with less than perfect credit
- Seasonal or uneven sales patterns
A few bank referral stories
Back to the bank in less than 24 months
“This was a great deal for everyone involved. By pairing a great business owner with the flexibility that Catalyst Financial offers, OperFi was able to grow exponentially faster than they could with a traditional line of credit. Catalyst met the capital needs from day one. They are a transparent and trustworthy operation all-around, which makes referring to them an easy decision. Even now as we complete the transition back to our bank, the Catalyst team is helpful, forthright, and focused on supporting the customer’s best interests.”
– Bank Referral Partner
“This was the experience and outcome everyone wants when they make a referral in business”
A well-established construction material supplier was incurring significant losses. Their banker couldn’t renew their line of credit, so they referred them to Catalyst.
“It was good for all parties; and the turnaround time was very fast…The company still banks with us, and the implementation of a quick solution with Catalyst made what could have been a complicated problem, be a smooth solution.”
– Executive Vice President & Bank Referral Partner
An established oil & gas company needed funding to operate during an industry downturn.
“Catalyst helped me with a customer in desperate need due to their current factoring company stopping their service very suddenly. Catalyst acted quickly and professionally. They worked with me and the customer to get them back to work. It was an easy process, and they are always there to answer any questions the bank or the customer might have.”
– Bank Partner